Markets · Commodity markets, November 4
Oil prices fall as crude sheds its war premium after the midterm elections
Wednesday, November 4, 2026. From GEO's evening brief, after the close.
Oil prices are down today because crude shed its war premium after Trump and Vance blamed the Iran war for their midterm rout, OilPrice reports, with WTI down 8.29% and Brent down 8.67%. Refined fuels followed, with ULSD down 7.18% and RBOB down 7.05%. Gold rose 3.37% after Democrats won big, according to Barron's, while silver gained 5.08% and palladium rose 7.43%.
What moved
Change from the prior settle, at the time of the evening brief.
| Crude | |
|---|---|
| WTI | −8.29% |
| Brent | −8.67% |
| Refined | |
| RBOB | −7.05% |
| ULSD | −7.18% |
| Nat Gas | |
| Henry Hub | +2.21% |
| Metals | |
| Gold | +3.37% |
| Silver | +5.08% |
| Copper | +0.42% |
| Platinum | +4.77% |
| Palladium | +7.43% |
| Agriculture | |
| Corn | +0.40% |
| Soybeans | −0.97% |
| Wheat | −0.21% |
| Cotton | +1.44% |
| Sugar | +0.76% |
| Coffee | −1.57% |
| Cocoa | +0.24% |
| Livestock | |
| Lean Hogs | −1.79% |
| Live Cattle | −0.07% |
| US dollar index | |
| Dollar index (DXY) | −0.35% |
Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.